Bob Jones to get $80,000 in defamation case costs
Kapiti Coast investment adviser Chris Lee has been ordered to pay property magnate Sir Robert Jones about $80,000 toward his defamation court costs.
However, Sir Robert failed to convince Justice Denis Clifford that he should receive indemnity, or increased, costs.
In May a jury in the High Court at Wellington made a $104,000 defamation award against Mr Lee. It found that articles on his website and various other publications were motivated by ill-will toward Sir Robert, who had claimed $804,000 damages.
A judgment released this week details Justice Clifford’s reasoning on costs.
In seeking indemnity costs, Sir Robert's lawyers said that Mr Lee had acted vexatiously, frivolously, or improperly in going to trial when he should have settled prior.
The issue was whether in defending the case Mr Lee knew, or ought to have known, that he was "embarking on a claim that was bordering on the hopeless."
Sir Robert argued that Mr Lee should have thrown in the towel after his defence of honest opinion was ruled unavailable on the fourth day of the five-day trial.
He had tried to have the defence thrown out on the basis that Mr Lee’s alleged statements of opinion were in fact incorrect statements of fact.
But Justice Clifford ruled out the defence of honest opinion on a different basis – that it did not respond to the “sting” of the alleged defamation.
“Therefore, and although the defence of honest opinion was at the heart of Mr Lee’s defence, and was ruled not to be available to him, I do not consider that his conduct in defending these proceedings was such that an award of indemnity costs would be appropriate.”
Justice Clifford ordered Mr Lee to pay Sir Robert $82,713, reduced by an appropriate amount in relation to Mr Lee's costs at a preliminary hearing before Justice Forrest Miller.
Neither Sir Robert nor Mr Lee were available to speak to NBR this afternoon.
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Comments and questions12
Good stuff Sir Bob! Im surprised more people have not sued him.
Sir Robert collects some cash but sadly not his sorry clients. Chris Lee's thinly disguised puffery, that he brandished as 'serious analysis', led many unsophisticated clients to follow the pied piper of financial buffoonery.
Even as his strongly-touted A list collapsed around him Lee stood before the waves like King Canute swearing allegiance to his commission feeding masters, Finnigan and Podmore.
You finally can read the truth Post Court Case in comment pages like this
Was it Chris who poisoned Bob's creeping ivy?
it's always galling when a salesman is allowed to spout his appalling lack of knowledge on National Radio as if it was competent commentary.
Mind you I don't blame Lee if NR keep on ringing him as he needs an outlet for his blowhard patter.
It's time NR sought out someone with less of a salesmen's agenda. A discredited, not-so-tiny-chap, from a tiny family firm in a quiet suburban backwater doesn't have the credentials to suit National Radio.
Jones, you ripped off my entire family by telling them to buy shares while you were selling them. I am glad you only got 80k out of 800k you were after. Shame you got anything at all. I bet your costs were alot more than 80k too so you will be out of pocket.
Chris, and most of New Zealand is right about you...
If you felt that way Shadbolt then why did you ever listen to his advice? He never made you or your family or whoever invest money with him, he may have offered some suggestions, but it was YOU who wrote the cheque and it was YOU who said "i will take some of that".
I have been a client of his for 5yrs, and yes i had Strategic, and SCF (which i will get back in full), but i also have 15 other bonds/property trusts/shares that are going fine.
You need to take some reponsiblity for your actions and move on in your life, holding grudges on dud investments is not going to achieve anything.
The thing you seemed to have missed, Anon, is that the Hight Court ruled Chris was not right.
I also read a family issue in your blog. Did your entire family independently research RJI? Were they independently ripped off? Or is my gut feeling the truth - that you were the lynch pin of the deal and 'sold' it to your family who have been aggrieved at your stupidity ever since. Am I close?
Thanks Anderson, I appreciate the comment.
My comment is not driven from a personal vendetta about failed investments but from the effontery of the man to bluff his way into a position of being considered a knowledgable commentator.
History has proven Lee has no such talent AND he turns his attack on those he previously espoused when they don't suit his true agenda - commission sales.
You are completely wrong. We invested because of Jones so called reputation. In his annual reports he was telling everyone that only a fool would sell RJI shares, so we bought them thinking that this "great man" knew what he was doing... When all along Jones was selling his shares as others propped up the price. He was even taken to court over this and lost. Justice Wylde i believe stated that he had ripped people off, lied and cheated and was almost done for insider trading. Again, thanks Robert!
When looking back at your other comments on other posts, you only ever speak about "Lee" so clearly you have something there that upsets you. But whatever, it is not my problem. Shame he doesn't look at these blogs.
Perhaps you should just contact him direct instead of speaking this rubbish about him "commission sales" - He gives his opinion and never speaks about 'products'
Frankly, after 24 finance companies fell over, one would expect the lack of confidence to cause the others to fall too.
Then again he never recommended me to put all my money into just finance companies, i have a very good spread after speaking to him with exactly what i was after. Most are trading at capital premiums at the moment.
The above post was a reply to "shadbolt"
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